BELFA vs BHE: Correlation
How closely do Bel Fuse Inc. (BELFA) and Benchmark Electronics, Inc. (BHE) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BELFA and BHE?
Over the past 3 years, BELFA and BHE moved with a correlation of 0.55, which is moderate. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 976.9 %².
Within BELFA's tracked universe of 10 assets, BHE comes in at #4 by 3-year correlation. Neither side won the trailing year by much: +80.5% against +81.4%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BELFA vs BHE: side by side
| BELFA (Bel Fuse Inc.) | BHE (Benchmark Electronics, Inc.) | |
|---|---|---|
| 1-year return | +80.5% | +81.4% |
| 5-year return | +1292.5% | +202.1% |
| Volatility (ann.) | 48.6% | 36.4% |
| Beta vs S&P 500 | 1.30 | 1.21 |
| Max drawdown (3Y) | -43.4% | -36.7% |
| Market cap | $3.1B | $2.6B |
| P/E (trailing) | 54.3 | 49.5 |
| Dividend yield | 0.11% | 0.94% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BELFA | BHE |
|---|---|---|
| 2022 | +117.0% | +1.1% |
| 2023 | +102.0% | +6.3% |
| 2024 | +39.8% | +67.1% |
| 2025 | +69.0% | -4.2% |
| 2026 | +40.6% | +73.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BELFA and BHE good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BELFA and BHE?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.64 over the last year and 0.44 over 5 years.
Is BHE a good diversifier for BELFA?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/belfa-vs-bhe.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/belfa-vs-bhe/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BELFA correlations · BHE correlations
